Independent Audit: West Haven Posts Clean FY2025 Opinion; $11M in Restricted Capital Funds Noted

Aldrich and Associates presented West Haven’s FY2025 financial statements on Feb. 4 and issued a clean (unmodified) opinion, reporting no audit findings and only one recommended journal entry.

Heather Christofferson, the firm’s auditor, told the council the independent auditors’ report confirms that the financial statements “represent the actual activity for the city” and that the audit did not identify material misstatements or fraud indicators. Christofferson directed council members to the Management’s Discussion and Analysis in the report as a concise year‑to‑year summary.

Key figures highlighted by the auditor included approximately $11,000,000 in restricted capital funds, $6,800,000 spent on highways and public improvements in the capital projects column, a governmental‑activities change in net position of roughly $8,100,000, a general‑fund net change of negative $340,000 (partially due to transfers to capital projects), and a proprietary (storm‑drain) operating loss of $352,000. Christofferson noted the city’s general‑fund balance was within the state compliance maximum (about 27–28%, under the 35% cap).

Christofferson also explained accounting bases used in the report (full accrual for statements of net position and enterprise funds; modified accrual for governmental funds) and suggested the Management Discussion and Analysis section for a condensed summary. Council members asked no substantive questions and thanked the auditor for the clear report.

The audit results will feed into budget discussions and ongoing fee studies (the auditor noted the city is discussing storm‑drain fees to better cover operating costs). The council received the audit and did not take further action at the Feb. 4 meeting.